Its been a fairly quiet start to the week in many markets with FX ranges narrow and directionless trading in the dollar after the signature US payrolls data last week failed to embolden either the bulls or the bears.
EUR/USD is moving sideways and a breakout is needed to confirm the next price swing. A bullish breakout should retest the resistance zone again.
There will be no respite for the battered Indian rupee over the coming year as surging COVID-19 cases amid timid economic recovery and deteriorating external position will pose downside risks.
(Reuters) – JPMorgan Chase & Co on Monday launched a new division in its asset management business that will give institutional and high-net-worth clients opportunities to invest in and lend to young, fast-growing companies.
BRASILIA (Reuters) – Brazilian banks saw profitability fall last year for the first time since the 2015-2016 recession, according to a central bank report on the banking system on Monday, as the COVID-19 pandemic forced institutions to increase provisions.
Meanwhile, WTI oil is trying to settle above the $70 level.
(Reuters) -Amazons billionaire founder Jeff Bezos said on Monday he and his brother Mark will fly on the first crewed space flight from his rocket company Blue Origin next month.
The direction of the June U.S. Dollar Index is likely to be determined by trader reaction to the minor pivot at 90.070.
The direction of the July WTI crude oil market on Monday is likely to be determined by trader reaction to $69.62.
Irelands strong growth provides the government with some of the highest potential in the euro area to reverse excess crisis-related borrowing, with debt as a share of the underlying economy to return to 2019 levels after 2026 absent significant shocks.
Mortgage rates returned to 3% on talk of tapering. NFP numbers from last week raises some uncertainty over how the FED will treat surging inflation…
No tropical cyclones are expected during the next 48 hours
U.S. energy firms this week cut the number of oil rigs operating for the first time in six weeks as growth in drilling slows.
USD/CAD is testing the support level at 1.2080.
Silver markets have bounced a bit during the trading session on Friday as the jobs number in the United States was a bit disappointing.
Buyers are out there, but they may be waiting for a pullback. The price action suggests speculators believe its too early to chase prices higher.
Meanwhile, gold rebounded as the report put significant pressure on the U.S. dollar.
The direction of the July WTI crude oil futures contract on Friday is likely to be determined by trader reaction to $68.80.
Disappointing Eurozone retail sales were expected. Comments from Lagarde and Powell perhaps less predictable ahead of U.S NFP numbers later today…
Precious metal prices across the board pulled back on routine profit taking ahead of Fridays key U.S jobs data.
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